OPEC Secretary General, Mohammad Sanusi Barkindo, last week attended the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2016, alongside a delegation from the OPEC Secretariat. ADIPEC is one of the largest global oil and gas industry events, bringing together around 100,000 oil and gas industry professionals from 120 countries around the world.
In concluding the session, the OPEC Secretary General invited HE Jabbar Ali Hussein Al-Luiebi, Iraq’s Minister of Oil, to officially launch the publication and thanked everyone involved in putting together the WOO 2016, as well as those that facilitated its unveiling in the UAE. It is the first time the WOO launch has taken place outside of the OPEC Secretariat in Vienna.
Following this, the Secretary General then shared a platform with Eng. Ahmed Mohamed Alkaabi, Assistant Undersecretary for Petroleum, Gas and Mineral Resources at the UAE Ministry of Energy and the UAE Governor for OPEC. The two-man VIP briefing at the Middle East Petroleum Club, focused on the ‘World oil outlook – the road ahead.’
The two discussed various issues including the significance of the WOO publication, the value of data transparency and the role of the Joint Organisations Data Initiative (JODI) in this regard, the current market environment, specifically the need to re-balance the market sooner rather than later, the importance of seeing industry investments increase, and the need to bring all stakeholders together to help tackle the industry’s challenges.